Tips
If something sounds like common sense, what do you do?
tell the people anyway
The first step to creating a business plan is..
decide your product/service
Know your target_____________
market
This is needed before you start your business plan
vision
____________offers personal liability similar to a corporation, but with a taxation similar to a sole proprietorship or partnership. Can be owned by one or more individuals(Business structure)
LLC
Give Caesar what belongs to Caesar, and Give to God what belongs to God. This saying comes from what scripture reference?
Matt 22:21
The 2nd step in creating your business plan is..
decide your customers/clients
_________=the type of entity owned and operated by one person/ no legal distinction between owner and entity
sole proprietership
This is what you do with your vision
Write it down
______________=partnership where each partner is not responsible(liable) for the other partners misconduct or negligence(business structure)
LLP
Let everything be done decently and in order comes from what reference?
1st Corinthians 14:40
The 3rd step in creating your business plan is..
Decide your business structure
Proper preparation____________
Prevents Poor Performance
What is the scripture we used for referencing vision
habbakuk 2:2-3
_______________=business structure where corporation taxed separately from its owners
C Corp
This is type of person who you would model your business after in your industry
A model
The 4th step to creating your business plan is..
Deciding your business legal structure
Be specific
Be Strategic
Be______
Strong
A good business always has a great balance with these 3 sheets, what are they?
income statement
expense reports
balance sheets
SWOT analysis stands for____
Strengths
Weaknesses
Opportunities
Threats
Always count these for your revenue goals
receipts
These are sheets that you have to keep a record of every day, week, and month
balance sheets
Because it's yours, no one will mind this if you dont
your business
Everything has meaning, Everything in your pitch has to have significance to seal the deal. This is called
being strategic
This is the book referenced in the presentation for starting your business
What is starting a business for dummies